XLE breaking down from Ascending Channel - global slowdown?

SPDR Select Sector Fund - Energy Select Sector (AMEX:XLE)

AMEX:XLE SPDR Select Sector Fund - Energy Select Sector

chartpattern trendanalysis indicator spx500 spx spy qqq sandp500 ascendingchannel xle energy

XLE just broke down from its ascending channel, which might be signalling that the market is pricing in a global slowdown.

XLE also broke down from an ascending channel in '08 and '14. In the case of 2008, SPX crashed. But in 2014, SPX traded sideways/flat for a while

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